A summary of China's battery raw materials exports for the first two months of 2021.In briefLithium carbonate exports decreased in January-February in a year-on-year comparison with the early months of 2020, with tight domestic supply from most producers and no great improvement in overseas demand.Read More
A summary of China's battery raw materials imports for the first two months of 2021.In briefImports of cobalt metal rose sharply year-on-year early in 2021, with the second round of stockpiling by China's State Reserve Bureau elevating the domestic price of metal in the first two months of the year, triggering a robust import appetite in the country for the blue metal.Imports of cobalt intermediat...Read More
A summary of China Molybdenum Co's annual report filed to the Shanghai Stock Exchange on Tuesday March 23.In briefRevenue for mining and processing business totaled 18.48 billion yuan ($2.84 billion), down by 4.06% year on year.Revenue for molybdenum and tungsten segment amounted to 3.55 billion yuan, down by 21.19% from previous year, due to...Read More
Applied Materials (AMAT). a NASDAQ 100 stock moved above $124.26 to an all-time high extending an intermediate uptrend. Hong Kong iShares (EWH) moved below $26.26 completing a double top pattern.Seagen (SGEN), a NASDAQ 100 stock moved below $141.50 extending an intermediate downtrend.U.S. Dollar ETN (UUP) moved above $24.91 extending an intermediate uptrend.Pre-opening Comments for Wednesday March...Read More
Here are five Fastmarkets stories you might have missed on Monday March 22 that are worth another look.Crude steel output in Germany dropped by 10.4% year on year in February 2021 after four consecutive months of recovery, German steel federation WV Stahl said on March 22.The process at...Read More
Aluminium's futures price reached yet another year-to-date high at $2,289.50 per tonne during trading on the London Metal Exchange on Monday March 22, with supply concerns for the metal continuing, and with all base metals prices up day-on-day at the close.The price of aluminium closed at $2,272 per tonne, $7 per tonne higher than on Friday, while its intraday high point on Monday was its highest...Read More
The process at the heart of proposals to overhaul the London Metal Exchange's market structure is problematic and suggests the exchange is not putting its users first, the president of the International Wrought Copper Council (IWCC) said. In an interview with Fastmarkets, Mark Loveitt said that it was not clear to the IWCC and its members why the exchange was revisiting plans to change its margin...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
High demand for bulk vessel space for mineral raw materials exported from China is driving costs for this transport option higher, with market participants reporting an array of factors that are affecting trading conditions and delivery timelines.Container freight costs for China's seaborne route have remained high well into March, with ongoing disruptions reported by participants active in m...Read More
Brazil-headquartered Nexa Resources has suspended operations at its Extremo Norte underground mine in the Vazante unit, due to the identification of ground displacements on the site, the base metals producer said on Friday March 19.The downtime is not expected to significantly affect production in the first quarter, however, Nexa said. Throughput of the second mine in the division, also called Vaz...Read More
Here are five Fastmarkets stories you might have missed on Monday March 22 that are worth another look.Crude steel output in Germany dropped by 10.4% year on year in February 2021 after four consecutive months of recovery, German steel federation WV Stahl said on March 22.The process at...Read More
The supply-driven rally in antimony prices that was buoyed by an ore shortage and shipping delays has now stalled, and the upward momentum has probably ended, market participants told Fastmarkets on Monday March 22, with some of them now expecting prices to fall."It does appear that antimony has 'done' its upside, from what we can see, and - if anything - [the uptrend] is now running out of steam,...Read More
The process at the heart of proposals to overhaul the London Metal Exchange's market structure is problematic and suggests the exchange is not putting its users first, the president of the International Wrought Copper Council (IWCC) said. In an interview with Fastmarkets, Mark Loveitt said that it was not clear to the IWCC and its members why the exchange was revisiting plans to change its margin...Read More
Steelmakers in Turkey stepped back from the deep-sea scrap market after the unexpected sacking of the head of the country's central bank sent the Turkish currency into freefall, sources told Fastmarkets on Monday March 22.The Turkish steel mills have been away from the deep-sea scrap markets since March 12, when two cargoes from the Baltic Sea were booked at $435-437 per tonne cfr on HMS 1&2 (80:2...Read More
The proposals included in the London Metal Exchange's discussion paper would not serve the needs of the physical market and could have a negative impact on copper and copper alloy semis-fabricators, the International Wrought Copper Council (IWCC) said.Mark Loveitt, IWCC president and director, said the association is not opposed to change but believed the proposals would not achieve the LME's stat...Read More
Here are five Fastmarkets stories you might have missed on Monday March 22 that are worth another look.Crude steel output in Germany dropped by 10.4% year on year in February 2021 after four consecutive months of recovery, German steel federation WV Stahl said on March 22.The process at...Read More
Brazil-headquartered Nexa Resources has suspended operations at its Extremo Norte underground mine in the Vazante unit, due to the identification of ground displacements on the site, the base metals producer said on Friday March 19.The downtime is not expected to significantly affect production in the first quarter, however, Nexa said. Throughput of the second mine in the division, also called Vaz...Read More
Base metals prices on the London Metal Exchange were mixed on Monday March 22, while those on the Shanghai Futures Exchange were up across the board. United States 10-year treasuries yields have eased to 1.67%, from recent highs of 1.75%Base metals LME three-month base metals prices were mixed, with copper, aluminium and lead down by an average of 0.5%, while the rest of the metals were up by an a...Read More
Australia-based graphite miner Syrah Resources has completed the installation of a furnace at its active anode material (AAM) project in US city of Vidalia, Louisiana, a significant milestone on its path to becoming a vertically integrated producer of natural graphite AAM outside of China, the company announced on Monday March 22.Syrah Resources produced and coated purified spherical graphite, whi...Read More
The downtrend in China's cobalt sulfate market accelerated in the week to Friday March 19 on weak buying interest and a widening gap between offers for material produced from cobalt hydroxide and that produced from scrap.Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China fell to 81,000-83,000 yuan ($12,434-12,741) per tonne on Friday March 19, down by 4,000 yuan per tonne (...Read More